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Eurozone manufacturing hits 4-year high
The Eurozone experienced unprecedented growth in the manufacturing sector over more than four years, driven by the strongest increase in new orders since the beginning of 2022. Exports notably rose, especially in Germany, Austria, and the Netherlands. The Purchasing Managers' Index (PMI) for manufacturing stood at 52.7 points in August, with production and employment continuing to grow modestly, while input costs and final product prices declined. It is expected that the rise in inflation to 3.3% in August will prompt the European Central Bank to again raise interest rates, as business confidence remains positive for the coming months.
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